When it comes to voting in a presidential election, we would expect, ceteris paribus,
A) a lower percentage of eligible voters will vote if the weather is bad and this makes it harder to get to the polls on election day (than would have voted if the weather was good).
B) a higher percentage of eligible voters will vote if the weather is bad on election day (than would have voted if the weather was good).
C) many people to vote who are rationally ignorant.
D) a higher voter turnout in the North than in the South.
E) a and c
E
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A bank has reserves of $50, deposits of $100, loans of $20, and government securities of $30. Assume the desired reserve ratio is 20 percent
a. What are the bank's assets and what are its liabilities? b. How much does the bank have in excess reserves? c. What can the bank do with its excess reserves that will affect the quantity of money?
Jason, a high-school student, mows lawns for families in his neighborhood. The going rate is $12 for each lawn-mowing service
Jason would like to charge $20 because he believes he has more experience mowing lawns than the many other teenagers who also offer the same service. If the market for lawn mowing services is perfectly competitive, what would happen if Jason raised his price? A) If Jason raises his price he would lose all his customers. B) He would lose some but not all his customers. C) Initially, his customers might complain but over time they will come to accept the new rate. D) If Jason raises his price, then all others supplying the same service will also raise their prices.
Let's play Jeopardy. The answer is: Because more goods are produced at lower prices and no country loses. The question is:
a. Why do countries engage in dumping? b. Why do countries retaliate? c. Why do nations trade? d. Why is comparative advantage preferred to absolute advantage? e. Why is absolute advantage preferred to comparative advantage?
Consumer surplus arises in a market because
A. at the current market price, quantity demanded is greater than quantity supplied. B. the market price is higher than what some consumers are willing to pay for the product. C. the market price is below what some consumers are willing to pay for the product. D. at the current market price, quantity supplied is greater than quantity demanded.